Retail
Red Sea Shipping Crisis Could Reignite Inflation, Warns Tesco
- Supermarket’s CEO Ken Murphy said the situation is uncertain
- M&S CEO separately said delays could impact new stock arrivals
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Shipping disruption in the Red Sea could lead to inflation on some consumer goods, Tesco Plc’s chief executive officer said Thursday.
“If they do have to go the whole way around Africa to get to Europe, it extends shipping times, it constrains shipping space and it drives up shipping costs,” Ken Murphy said on a call with journalists. “So that could drive inflation on some items, but we just don’t know.”